How To Calculate What My Personal Injury Claim Is Worth?

From car accidents to slips and falls in public places and workplaces, personal injuries happen every day. If you have been involved in any type of personal injury, you likely want to file a lawsuit against and seek compensation from the defendant. But do you know just how much your personal injury claim is worth? You can work with a personal injury lawyer in Orillia to calculate that, and you can read this article for more insights regarding this.

Have you ever heard of the phrase, “what you don’t know can hurt you?” Well, this is definitely the case with personal injury lawsuits. If you ask your lawyer, they will tell you that personal injury lawsuits rarely go to trial. That means you will probably not receive your settlement from a judge. Instead, you, your lawyer, the defendant, his or her lawyer, and his or her insurance company will likely settle the lawsuit out of court – most personal injury lawsuits are settled in this manner. These types of settlements are legally defined as negotiated settlements.

Compensatory damage applies to personal injury lawsuits

Your lawyer will inform you that you will receive compensatory damages if your lawsuit is settled – either in or out of court. What that means is that you will receive a monetary award that is enough to pay for your physical injuries, any expenses and bills you have incurred, and any income you may have foregone due to not being able to work. Therefore, compensatory damages will restore you to the financial position you were in before you sustained your personal injury. The lawyer will inform you of the major areas in which compensatory damages cover. They are:

● Medical expenses – this is standard coverage in personal injury lawsuits because almost everyone who has suffered from personal injury has medical bills. Compensatory damages will cover your current medical expenses and any expenses you are expected to have in the future.
● Income – if you have not been able to work for six weeks because you broke your leg, you will be compensated for any income you have foregone. This is lost income (or wages) and is material because you need this money to help pay for your daily bills and expenses.
● Property loss – you may have totaled your car in a personal injury accident. Compensatory damages will award you the money you need to buy a new car of equal value.

You can indeed come out a winner in personal injury lawsuits. It is not the end of the world if you have a personal injury. You can win a lawsuit either in or out of court provided you have good legal counsel and a good understanding of the basics of personal injury law.